• Journal of Arbitration Studies
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• v.15 no.3
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• pp.27-54
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• 2005

In the era of globalization firms must operate all useable resources into marketing activities to survive on the unlimited competition. However, firms face many kinds of disputes with counterparts because of aggressive marketing activities. There are two ways of solving these disputes : litigation and arbitration. As compared to litigation, arbitration is more popular because of such merits as the enforcement of arbitral award in foreign countries, the single trial system, the settlement by specialists, and the confidential proceedings. This paper examines trade firms' perception on the arbitration system and the effects of the advantages of arbitration and quality of arbitrators on the outcome of arbitration. The results show that the advantages of arbitration and quality of arbitrators influenced positively on the outcome of arbitration, but influenced negatively on the closed-door of arbitration procedures and a fair procedure of arbitrator. Though this paper has several limitations, this paper may contribute to figure out the relationship between arbitration merits and quality of arbitrator and outcomes as a first empirical paper and to suggest future research method and direction.

• Journal of Arbitration Studies
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• v.24 no.1
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• pp.85-109
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• 2014

Mediation and Arbitration are two distinct ADR processes. Their dissimilarity lies in the principle that in mediation the parties themselves decide what the resolution to the problem is, whereas in arbitration the arbitrator makes that determination. Med-Arb, hybrid of the two methods, is a fairly new ADR process dating back to the 1970s. Med-Arb capitalizes on the advantages of both mediation and arbitration, while eliminating many of their disadvantages. Mediation has the advantage of allowing for resolutions rather than decisions. Arbitration has the advantage of guaranteeing that the matter will be resolved when the procedure is over. In Med-Arb, the participants agree to be parties to mediation, and if the mediation comes to an impasse, a final settlement will be reached through arbitration. This study first explicates the origin and the development of Med-Arb in the United States. This study shows that the emergence of Med-Arb is benefited from the fact that arbitration has lost its own advantages ie, speed, cost-saving, and maintenance of an ongoing relationship between the disputants. Second, this study analyzes four cases in which Med-Arb is applied to various kinds of disputes as a tool of dispute resolution: labor disputes, entertainment disputes, will disputes, and international commercial disputes, consecutively. All those case studies show the generality of Med-Arb as a dispute resolution channel. Third, this study compares the advantages and disadvantages of Med-Arb. Finally, this study discusses the implications of Med-Arb. In particular it provides the universality of this hybrid form of dispute resolution in the East and West. For example, we show that China has its own distinctive Med-Arb system, where it has developed from ancient Confucian philosophy. Japan also emphasizes the role of an arbitrator who settles the disputes in the course of arbitration. The domestic arbitration rules of the Korean Commercial Arbitration Board (KCAB) have a similar process in that arbitration contains an element of conciliation. With regard to the universal characteristics of Med-Arb, it is necessary to analyze the pros and cons of Med-Arb at a deeper level in the future. One caveat is that it is necessary to handle the issues of the neutrality of the mediator-arbitrator.

• THE INTERNATIONAL COMMERCE & LAW REVIEW
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• v.55
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• pp.63-93
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• 2012

The purpose of this paper is to examine the consideration factors, from both parties' perspective, to select the most appropriate arbitral institution when they inset an arbitration clause in their contract. Accordingly, the author analyzed the advantages of institutional arbitration compared to non-institutional arbitration. The typical advantages of institutional arbitration would include: $\bullet$ Benefits of using an established set of rules $\bullet$ Services provided by the institution $\bullet$ Low risks of obstruction $\bullet$ Enhancement of the possibilities of enforcement $\bullet$ Forecast of the estimated cost $\bullet$ Specially useful for existing disputes Next, this author examined the consideration factors when selecting the institution in respect of the following factors: $\bullet$ Institution's arbitration rules $\bullet$ Institution's rule regarding the appointment of arbitrators $\bullet$ Ability of administrators of each institution $\bullet$ Reputation of the arbitral institution and the likability of enforceability of its award $\bullet$ Cost $\bullet$ Choice of the arbitral institution in relation to the choice of place of arbitration Finally, this author reviewed Model Arbitration Clause of major international or local Institutions, including ICC, AAA, LCIA, KCAB, CIETAC, ICSID and WIPO. Further examination was given to the selection of the numbers of the arbitral tribunal, the seat of arbitration and the language of arbitration, according to the designated articles in each institution's arbitration rules.

• Journal of Arbitration Studies
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• v.11 no.1
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• pp.75-93
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• 2001

The advantages of arbitration such as promptness, economy and flexibility apply to the disputes arising from corporate governance between shareholders and a corporation. The confidentiality of arbitration can be particularly highlighted in the disputes among the members inside corporation. But it appears that the shareholders believe litigation the best way to pursue liabilities of managers of corporation and improve the system of corporate governance. And it is claimed that the current litigation system lacks the implementation of shareholders rights due to structural deficiency and therefore need bring class actions into the system of Korean jurisprudence. The OECD, which afforded the rescue finances to Korea, also recommended shareholder class actions as a way to improve corporate governance. Class actions have merits but even advanced countries consider the changes of existing system or only stay class actions in the stage of discussion. Rather, legal experts urge arbitration to be used more frequently and the Courts also approved the dispute resolutions of the disputes as to corporate governance through arbitration. There is no report in Korea that arbitration was used to resolve the disputes between shareholders and the managers, or between shareholders and corporation, which is listed in the Stock Market. There only are the debates for bring class actions into the judicial system between NGOs and the organizations of corporate managers. But arbitration has greater advantages in resolving the disputes among the members of corporation that any other methods for dispute resolution. Arbitration can interpret flexibly the mandatory provisions of the Statutes of Security and the Code of Commerce to meet the needs of parties involved, which is not possible to the Courts. Arbitration can issue the award to meet the equity of the parties. And arbitration can avoid a resolution of All or Nothing by fully considering the specific situations of Korean corporations(such as family-dominated management) and can issue the award beneficial to all parties of shareholders, managers and corporation. Thus it should be sought to resolve the disputes as to corporate governance through arbitration.

• Journal of Arbitration Studies
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• v.27 no.4
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• pp.35-60
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• 2017

Arbitration, a form of alternative dispute resolution (ADR), is a technique for the resolution of disputes outside the courts. Parties often seek to resolve disputes through arbitration because of a number of perceived potential advantages over judicial proceedings: Arbitration is generally faster and more inexpensive (cheaper) than litigation in court. The Republic of Korea enacted the "Arbitration Industry Promotion Act" to develop arbitration. This law provides for the establishment and operation of arbitration institutions, training of arbitration experts, and support of arbitration studies and international exchanges. Effective operation of an arbitration institution has an important influence on the development of arbitration. Neutral and good arbitration experts improve the authority of arbitration. The academic study of arbitration theoretically develops the arbitration procedure. In addition, this paper referred to some additional factors that South Korea should have in order to become an attractive place of arbitration. Neutrality and fairness of the court of arbitration are highly important factors in arbitration. Therefore, the arbitration institution should be operated independently and clearly from the government to ensure neutrality and fairness. The parties of arbitration should also be free and able to defend their interests sufficiently in the arbitration proceedings. Lastly, coordination between this law and other laws is necessary.

• International Journal of Computer Science & Network Security
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• v.23 no.7
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• pp.32-38
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• 2023

This study deals with arbitration award via modern technical means; because e-Arbitration is deemed to be one of the most important substitute means for the settlement of disputes arising from electronic transactions. This type of arbitration is characterized by fast settlement of disputes, as well as fast enforcement of awards rendered thereon. The researcher seeks to indicate the content of the award, the conditions for rendering it, and to analyze the legal provisions related to its legal basis in the Saudi Law of Arbitration. This study shows that an arbitration award, rendered via modern technical means has a number of advantages, such as fast settlement, less cost, and keeping pace with modern technology, which is an aim of Saudi Arabia Vision 2030. The study also points out certain problems facing arbitration via technical means; however, the most important of which is the insufficiency of some legal rules associated with traditional arbitration, as contained in the Saudi Law of Arbitrator, which are incompatible with or applicable to an arbitration award which is rendered via modern means.

• International Commerce and Information Review
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• v.12 no.4
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• pp.429-453
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• 2010

The purpose of this paper is to examine the significances of choosing the place of arbitration, the principles of fixing the place, which the major international arbitration institutions(including the ICC, LCIA, AAA, CIETAC and so on) have in their arbitration rules, and the methods of drafting the place of arbitration in arbitration agreements. When the contract parties have agreed on the place of the arbitration, the institutions have no role regarding the selection of the place of arbitration. But the parties have not agreed on the place of arbitration, it is fixed by the rules of selected institution, by considering the lists of criteria including local laws, N.Y. Convention, neutrality, convenience and so on. This author suggested four alternatives on how to designate the place of arbitration, and advantages and disadvantages of each one: the place of claimant, the place of respondent, the place agreed on in advance in Bilateral Agreement between two Arbitration Institutions established in two countries or the third country. In conclusion, the decision of all elements in the international contract is greatly influenced by the power of negotiation, and the place of arbitration in arbitration agreement has a lot of influential significances on both parties when resolving the disputes. So it is advisable for the parties to fix the place according to the global standard(the place of respondent), the arbitration rules of major international arbitration institutes and the result of the negotiation between parties.

• Journal of Arbitration Studies
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• v.19 no.1
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• pp.25-44
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• 2009

The purpose of this parer is to examine the specifies of Institutional Arbitration and Ad Hoc Arbitration. The court prefers the institutional award in the enforcement rather than the award issued under the name of arbitrators alone. For example, the ICC Court of Arbitration scrutinizes awards for completeness, adherence to the ICC Rules and internal consistency, which since the court assurance for enforcement. In terms of arbitration costs, for which the ad hoc arbitration is considered to have comparative advantages, the institutional arbitration may not be more expensive than ad hoc arbitration, as in most commercial case, the administrative fees are insignificant. This paper suggests the standard or model arbitration clauses in institutional and ad hoc arbitrations. These Clauses contains the minimum elements necessary to render the arbitration agreement enforceable and effective. So both parties may add the specific contents such as the number of arbitrator, the place of arbitration and the language. Especially, in Ad Hoc Arbitration without designated set of rules, more clean clause for appointing arbitrators will be needed.

• International Journal of Computer Science & Network Security
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• v.24 no.3
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• pp.29-37
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• 2024

Resorting to electronic arbitration to resolve disputes in international trade contracts is the most important reflection of technological progress on the reality of international commercial arbitration. Electronic is a modern image of traditional arbitration, and this type of arbitration provides many advantages that are not provided by any legal system for resolving disputes, including speed, effectiveness and lower costs. What will this development produce? Through technical progress in the means of communication, it has become conceivable that international trade dealers agree to arbitration via electronic means of communication, followed by the completion of the arbitration process via the Internet, leading to the issuance of the electronic arbitration award in an electronic manner as well.

• Journal of Arbitration Studies
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• v.29 no.4
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• pp.101-120
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• 2019

This study examines the development strategies of the arbitration industry in Singapore and Hong Kong, and its purpose is to provide implications for the development of the arbitration industry in South Korea. The main strategies implemented by Singapore and Hong Kong to develop the arbitration industry are as follows: first, improvement of the arbitration law system; second, active support of the government for promoting the arbitration industry; third, build up of an effective arbitration expert training system; and fourth, an arbitration-friendly attitude of the court. In order for South Korea to become an international arbitration hub in Northeast Asia, it is necessary to refer to the above-mentioned strategies. In addition, South Korea needs to develop marketing strategies that can differentiate itself from Singapore and Hong Kong, such as the development of an arbitration system in connection with the 4th Industrial Revolution, differentiation of the disputes sector, use of geographical advantages and a penetration pricing strategy, and support of the Korean Commercial Arbitration Board. In terms of marketing strategy, there are few studies on the development strategy of the arbitration industry in South Korea. In this respect, this study has academic value and differentiation.